Written by ForexBrokers.com
In this head to head comparison of IC Markets vs BDSwiss, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2007, IC Markets is a well-established online broker known for its high level of trust. With a Trust Score of 84 as rated by ForexBrokers.com, IC Markets is considered a trusted platform, holding two Tier-1 licenses for its operations. Although it is not publicly traded or affiliated with a bank, the company's reliable regulatory status makes it a favored choice among many traders seeking a secure trading environment.
In comparison, BDSwiss, which was founded in 2012, holds a Trust Score of 73, categorizing it as an average-risk broker. While not publicly traded or a bank, BDSwiss manages to maintain a presence in the trading world with one Tier-1 license. Despite both brokers not harboring Tier-2 licenses, their regulatory standing offers prospective clients a clear picture, with IC Markets having an edge in terms of trust and regulatory compliance.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Year Founded | 2007 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
When it comes to comparing the commissions and fees of online brokers, IC Markets stands out as a formidable option. Celebrated with a five-star rating and ranked 5th in the Commissions & Fees category by ForexBrokers.com, IC Markets offers competitive trading costs that appeal to traders looking for value. With its low effective spreads and no hefty deposit hurdles for commission-based accounts, IC Markets provides a cost-friendly trading environment akin to top brokers like IG and CMC Markets. They offer three account types: a commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account boasts a slightly cheaper commission than the MetaTrader Raw Spread account, at $3.0 per side compared to $3.5, making it a viable choice for traders keen on minimizing costs.
IC Markets further appeals to active traders by offering discounts for those who trade over 100 standard lots per month. For a typical EUR/USD trade, IC Markets lists its average spread at 0.02 pips. This turns into an overall cost of 0.62 pips in the cTrader account and 0.72 pips in the MetaTrader Raw Spread account when commissions are factored in, positioning IC Markets favorably within the competitive landscape. Meanwhile, for those preferring a commission-free experience, their Standard account presents an average spread of 0.62 pips.
On the other hand, BDSwiss, with a four-star rating and ranked 29th by ForexBrokers.com, offers fair order execution but can't quite match IC Markets' fee structure. Its Classic account shows a heftier spread of 1.5 pips on EUR/USD, while its Raw account features a spread of 0.3 pips plus a $5 per side commission, leading to an effective spread of 1.3 pips. For those opting for the VIP account, the spread comes to around 1.2 pips. Although not the cheapest, BDSwiss may still serve traders who value solid execution and varied account offerings.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Minimum Deposit | $200 | $10-$5000 |
| Average Spread EUR/USD - Standard | 0.62 | 1.6 |
| All-in Cost EUR/USD - Active | 0.62 | 1.3 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and BDSwiss both provide opportunities for forex trading through CFDs or spot contracts, accommodating traders interested in the currency market. IC Markets offers access to 3,583 tradeable symbols, significantly more than BDSwiss's 1,081, providing a broader selection for investors seeking diversity. When it comes to forex pairs, IC Markets also leads with 61 options compared to the 53 offered by BDSwiss. However, neither broker provides exchange-traded securities on U.S. exchanges, meaning clients can't directly purchase shares like Apple; however, IC Markets allows trading on selected international exchanges, such as the London Stock Exchange, unlike BDSwiss.
In terms of alternative investment options, both IC Markets and BDSwiss offer copy trading and the ability to trade cryptocurrency derivatives, though neither supports the purchase of actual cryptocurrencies. Both platforms cater to traders with varied interests, but IC Markets edges ahead with a 4.5-star rating for its range of investments, compared to BDSwiss's 4-star rating. Additionally, IC Markets ranks higher at #25 out of 62 brokers in the Range of Investments category on ForexBrokers.com, while BDSwiss is positioned at #34, reflecting its slightly narrower offering.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1081 |
| Forex Pairs (Total) | 61 | 53 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
IC Markets and BDSwiss both offer traders a variety of platform options and tools, catering to different trading styles and preferences. Both brokers provide access to MetaTrader 4 and MetaTrader 5, supporting extensive functionalities widely appreciated by traders. For those looking to explore strategies in a risk-free environment, both brokers offer free virtual demo accounts for practice. While IC Markets doesn't boast a proprietary platform, BDSwiss fills this gap by providing an in-house developed option along with standard platforms, offering unique features tailored to their users. When it comes to desktop and web-based platforms, both brokers are on equal footing, each delivering a Windows-based desktop download and a web-based trading solution, ensuring accessibility and convenience regardless of the device.
In terms of additional features, copy trading is available on both IC Markets and BDSwiss, although only IC Markets supports integration with ZuluTrade, offering a broader range of copy trading options. Both brokers deliver a satisfying charting experience with 15 drawing tools and the ability to trade directly from the chart, simplifying the trading process. Their watch lists are equally detailed, supporting seven fields to help traders keep track of market movements. Despite these similarities, IC Markets edges ahead with a slightly higher rank from ForexBrokers.com, being 17th out of 62 brokers compared to BDSwiss's 24th position. Nevertheless, both platforms are rated equally at four stars for their trading platforms and tools, highlighting their effectiveness and user-friendly design for a broad range of traders.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IC Markets and BDSwiss have developed comprehensive solutions for traders using iPhones and Android devices alike. Each app provides essential features such as stock and forex price alerts and the ability to draw trendlines on charts. For charting enthusiasts, both platforms offer an impressive 30 technical studies, ensuring users have a robust set of tools for analysis. Additionally, both apps allow traders to view multiple time frames and have the convenience of auto-saving drawings on stock or forex charts. This makes it easier for traders to maintain a consistent and uninterrupted analysis source.
IC Markets and BDSwiss both enable users to create watchlists with real-time quotes. However, neither offers watchlist symbol syncing across mobile and online accounts. Despite the similarities, IC Markets holds a slight edge with a #22 ranking in the Mobile Trading Apps category by ForexBrokers.com, just ahead of BDSwiss, which ranks at #23. Both apps receive a four-star rating, reflecting strong user satisfaction and reliability in mobile trading functionalities. When choosing between the two, traders might focus on these subtle differences to make a decision that best suits their trading needs.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both IC Markets and BDSwiss provide solid daily market commentary, catering to traders who value regular updates. IC Markets steps ahead in offering comprehensive forex news from top-tier sources like Bloomberg and Reuters, while BDSwiss lacks this feature. Both brokers provide access to valuable tools from Autochartist and Trading Central, essential for traders who rely on technical and fundamental analysis. However, IC Markets distinguishes itself further by offering a sentiment-based trading tool, giving traders insight into market position ratios.
An economic calendar is available with both brokers, listing global news events that can affect trading strategies. While neither offers resources from TipRanks or Acuity Trading, they both maintain a consistent level of market research that earns each of them a respectable four-star rating. While similar in many areas, IC Markets slightly edges out BDSwiss, ranked 22nd compared to BDSwiss's 23rd for research by ForexBrokers.com out of 62 brokers.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and BDSwiss both provide a wealth of educational resources for beginners looking to learn about forex and CFDs. Each broker boasts a collection of over 10 educational pieces, including articles, videos, and archived webinars, making it easier for newcomers to get started with trading. Additionally, both platforms offer online webinars each month, ensuring that clients have regular opportunities to deepen their understanding of trading concepts. The educational offerings don't stop there; both IC Markets and BDSwiss provide extensive video libraries covering beginner topics, making learning accessible and engaging for those new to the field.
For those looking to advance their trading knowledge, IC Markets and BDSwiss also cater to experienced traders with various advanced educational videos and comprehensive investor dictionaries featuring more than 50 investing terms. This allows traders at all levels to expand their vocabulary and grasp complex concepts. Both brokers have received favorable ratings for education, earning 4-star reviews. While IC Markets holds a slightly higher ranking at #16 compared to BDSwiss’s #19 in the ForexBrokers.com education category, both platforms demonstrate a commitment to providing quality educational resources, making either a compelling choice for learning and trading.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IC Markets is better than BDSwiss. IC Markets finished with an overall rank of #20, while BDSwiss finished with an overall rank of #36.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and BDSwiss do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
IC Markets and BDSwiss both provide options for using Skrill, Visa or Mastercard, and bank wires to deposit or withdraw account funds, but only IC Markets supports PayPal transactions while BDSwiss uniquely offers ACH and SEPA transfers, positioning each broker distinctly in terms of funding flexibility.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IC Markets | BDSwiss | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BDSwiss Review |
| Broker Screenshots | IC Markets | BDSwiss | |
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| Regulation | IC Markets | BDSwiss | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| Year Founded | 2007 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | BDSwiss | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IC Markets | BDSwiss | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | BDSwiss | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1081 | |
| Forex Pairs (Total) | 61 | 53 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IC Markets | BDSwiss | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.62 | 1.3 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IC Markets | BDSwiss | |
|---|---|---|---|
| Minimum Deposit | $200 | $10-$5000 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | BDSwiss | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | BDSwiss | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | BDSwiss | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | BDSwiss | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | BDSwiss | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | BDSwiss | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IC Markets Review | BDSwiss Review |
| Overall | IC Markets | BDSwiss | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BDSwiss Review |
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